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GOLD/ Decline Below 2666, Resistance at 2732-2757
The price has formed a descending channel once again, and trading continues within it. Today, there is a brief upward movement before it declines, potentially breaking through the 2666 level.
Currently, the price is above the 2666 level, supporting a rise towards the upper channel trend. However, for the price to move higher, a breakout above the channel trend is necessary, confirmed by a close of the 4-hour candle.
The bearish trend remains in place as long as the price trades within the channel and below the 2732 and 2757 zones. A sharp decline is expected today, with the price potentially breaking below the 2666 level and moving towards 2636.
Key Levels: 2666
Currently, the price is above the 2666 level, supporting a rise towards the upper channel trend. However, for the price to move higher, a breakout above the channel trend is necessary, confirmed by a close of the 4-hour candle.
The bearish trend remains in place as long as the price trades within the channel and below the 2732 and 2757 zones. A sharp decline is expected today, with the price potentially breaking below the 2666 level and moving towards 2636.
Key Levels: 2666
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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